Global Melanoma Diagnostics market was valued at US $ XX Mn and expected to grow at XX% Compound Annual Growth Rate (CAGR) over the 2017 to 2023.

Market Outline: Melanoma Diagnostics Market

Melanoma is the more serious type of cancer which develops in cells of skin called melanocytes that produce melanin. Melanoma not only affects skin but it also affects eyes and rarely, affects internal organs such as the intestine. The exact cause of melanoma is not clearly known, but the exposure of skin to UV radiation or tanning lumps and beds increases risk of developing melanoma.

Market Dynamics: Melanoma Diagnostics Market

Melanoma Diagnostics market is primarily driven by the increase in number of people suffering from melanoma coupled with the advancements and approvals of new technologies for the diagnosis of melanoma. In addition, growing number of developments, current pipeline tests and biomarkers and their expected approvals during the forecast period projected to boost the Melanoma Diagnostics market over the forecast period. Furthermore, increase in government support and R&D activities to fight against cancer coupled with various initiatives by government and non-government organizations expected to bolster the market growth over the forecast period. However, high cost associated with the diagnosis process, regulatory constraints may hinder the growth of Melanoma Diagnostics market globally.

The upsurge in the global melanoma prevalence rates and pipeline drugs for the treatment of melanoma projected to boost the global Melanoma Diagnostics market at significant rates over the forecast period. According to World Health Organization (WHO), there is continuous increase in global prevalence of melanoma worldwide and estimated to be 132,000 melanoma skin cancers occurs every year. Companies in marketplace are focused on development of the new biomarker assays and tests for the diagnosis of melanoma. Furthermore, companies also focus on collaborations and acquisitions to develop the new drug treatments and expanding their portfolio in Melanoma Diagnostics market. For instance, in January 2018, Skyline Dx INKS entered into a joint development agreement with mayo clinic to develop diagnostic tests for melanoma

Regional Analysis: Melanoma Diagnostics Market

Geographically, global Melanoma Diagnostics market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. North America Melanoma Diagnostics marketexpected to grow at significant rates due to the high prevalence of the disease in the region. According to American Cancer Society, the rates of melanoma are raising from past 30 years and about 91,270 new melanomas will be diagnosed in 2018. In addition, favourable reimbursement policies in the region coupled with the increase in disposable income are expected to boost the market share of the region over the forecast period. Europe Melanoma Diagnostics market projected to grow at notable rates owing to the factors such as growing prevalence of melanoma, presence of key market players in the region and increase in R&D towards the development of new treatments for cancer backed with growing government funding. Asia Pacific Melanoma Diagnostics market projected to have the lucrative growth opportunity due to growing healthcare expenditure by the population and increase in R&D investments by the companies and government in the region.

Notable Market Developments: Melanoma Diagnostics Market

·In January 2014, Michelson diagnostics, UK based medical device company focused on multi beam optical coherence tomography technology and received award of €2.26 million Framework 7 grant to a consortium of seven partners, towards the cost of project targeting malignant with OCT imaging.

Competition Assessment: Melanoma Diagnostics Market

Some of the players in the global Melanoma Diagnostics market include:

·The report analyses the impact of the socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market

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